Home Business Surprising resignation of a German ECB leader Business Surprising resignation of a German ECB leader By drbyos - September 26, 2019 0 36 Facebook Twitter Pinterest WhatsApp Would this be a new rant of the Germans against the policy of Mario Draghi? Sabine Lautenschläger, a member of the executive board of the European Central Bank, announced her resignation on Wednesday night amid a climate of increasing division within the institution's Board of Governors on monetary policy. The resignation of Sabine Lautenschläger also raises the crucial question of her replacement at a time when the low interest rate policies of the central bank arouse strong criticism in the country. The central banker "Informed President Mario Draghi that she would resign on October 31, 2019, before the end of her term" which was planned for the end of January 2022, according to a terse statement from the ECB that gives no reason for this sudden departure. The only female member of the six-member ECB executive board, Sabine Lautenschläger is known as a "hawk", defending a less accommodative monetary policy, as opposed to the one that has been going on for years in the eurozone to tempt to boost the economy and prices. Just before the arrival of Christine Lagarde It would not be the first from the institution to mark his disagreement: in December 2011, Jürgen Stark, then chief economist, had resigned from the board of directors because of its opposition to stimulus measures. It was preceded the same year by Axel Weber, who openly criticized the ECB's redemption of public debt, and had preferred resigned, thus renouncing to run for the presidency of the institution. Lautenschläger's decision comes as the ECB prepares for the arrival of Christine Lagarde in his presidency, which indicated that it would continue Draghi's recovery policy. In addition, earlier this month, Mario Draghi was strongly opposed by some of the members of the Governing Council – of which Sabine Lautenschläger was one – by proposing a new package of large-scale measures to support economic activity, including a deposit rate lowered to 0.50% basis point. This meeting of the ECB had provoked a wind of criticism to the point that Mario Draghi had been presented as Dracula In one of the popular daily "Bild", ready to devour the savings of small savers. Share this:TwitterFacebook RELATED ARTICLESMORE FROM AUTHOR The dollar is relatively quiet against the pound during today's trading Bitcoin closes the week with a wedge that seems to stop the price drop below USD 8,000 Buses almost complete, carpool rising sharply due to disruption LEAVE A REPLY Cancel reply Please enter your comment! Please enter your name here You have entered an incorrect email address! Please enter your email address here Save my name, email, and website in this browser for the next time I comment. This site uses Akismet to reduce spam. Learn how your comment data is processed.